UK edtech market expected to reach £3.4bn this year

The nation currently leads the EU edtech market, drawing more than US$1bn in investment since 2014

The UK education technology (edtech) market is expected to reach £3.4bn this year following the digital transition spurred by the pandemic, attracting investments worth more than US$1bn since 2014 – more than the next three countries combined – and dominating the European edtech market.

There are approximately 1,000 edtech companies across the country today, all of whom have helped to facilitate remote teaching and learning methods implemented since March 2020.

UK education produced £23.3bn in exports in 2018, a figure the government hopes to boost to £35bn a year by the end of the decade. To help achieve this goal, a range of new initiatives will be launched – including a new Export Academy, financial support, ‘meet the buyer’ events and webinars.

Exports minister Graham Stuart witnessed first-hand how edtech is supporting young people during a visit to Shireland Collegiate Academy in Sandwell earlier this week (13 September).

UK edtech market
The Academy has developed eduu.school, the first fully mapped thematic curriculum that integrates wellbeing in collaboration with educational publisher Hodder Education, mental health partner Kooth and Wrexham-based company Gluu.

“The UK offers world-class education, a global reputation and a strong presence in international markets with education exports, such as edtech” – Graham Stuart, MP

Mr Stuart MP commented: “With education exports reaching 23.3bn in 2018, I’m proud to lead the Department for International Trade’s (DIT) education work, which has become all the more important during the pandemic.

“The UK offers world-class education, a global reputation and a strong presence in international markets with education exports, such as edtech. British education is in high demand around the world; be it for skills training in Vietnam, higher education in Brazil, or English language training in Japan, DIT provides a range of support options for education providers looking to expand internationally.

“It was great to see British innovation at play at Shireland and I look forward to working with edtech businesses to ensure the UK’s world-renowned education industry builds back better by exporting our brilliant goods, services, skills and innovation across the globe.”

The government is committed to supporting sector’s exports overseas in key priority markets including Indonesia; India; Saudi Arabia; Nigeria; Brazil; Mexico; Pakistan; Vietnam; and the UAE.


In other news: Salford to host centre for training in real-time 3D platform


 

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